Grenergy is a Spanish company founded in 2007. It is an independent renewable energy producer and a specialist in the development, construction and operation of photovoltaic and storage projects.[1] It is present in 10 countries in Europe, Latin America and the United States. In 2023, with more than 600 employees,[2] it posted a net profit of €51 million, a fivefold increase compared to 2022. In terms of total revenue, it rose to €400 million, 37% higher than in 2022.[3][4]
Grenergy was founded in Spain by economist David Ruiz de Andrés. It started its first projects in Spain (2008-2012) with solar farms in the provinces of Cuenca, Toledo, Sevilla, Granada and Ávila.[5][6][7] The company chose Chile for its Latin American expansion, which began in 2014, after incentives for the sector were curbed in Spain.[8]
In 2016, it was awarded the construction and development of two wind farms in Cajamarca (Peru),[9] and continued with the construction of two solar plants in Colombia and Mexico.[10]
It began operating in Italy,[10] and the United Kingdom in 2020,[11] and began operating in Germany in 2022.[12] It entered the United States by acquiring a 40% stake in Sofos Harbert Renewable Energy, a photovoltaic and battery project developer.[13][14] A year later, it succeeded in acquiring 100% of the company, which has been renamed Grenergy US.[15]
It has a portfolio of 15.9 gigawatts (GW) of solar PV and 21.7 GWh of storage in various stages of development:[20]
Oasis de Atacama
Located in the Atacama Desert (Chile), it is made up of 2 GW of solar and 11 gigawatt hours (GWh) of storage.[21][22] In September 2024, Grenergy acquired a solar portfolio from Repsol and Ibereólica for $128m to expand the project. The portfolio included a 77MW photovoltaic plant, 923MW of projects under development and a 1GW interconnection facility.[23][24]
Grenergy has an agreement with BYD - a Chinese battery manufacturer - to supply large-scale storage systems with a total capacity of 3 GWh.[25] It has power purchase agreements with companies such as EMOAC in Chile.[21][26]
In December 2024, Grenergy sold 23% of the assets from the projects to ContourGlobal for $962 million. The assets include 451 MW of solar and 2.5 GWh of storage.[27][28]
GranTeno
It has a capacity of 241 MWp and is located in the Maule region, in south-central Chile. Its construction, with sustainable financing from BNP Paribas and Société Générale, amounted to 136 million euros ($148 million).[29] A long-term Power Purchase Agreement (PPA) signed with an international utility company will provide 140 GWh per year for 12 years.[30] It is Grenergy's largest PV plant in operation to date (2024).
Other projects
The portfolio includes the Escuderos photovoltaic plant (Cuenca). It has a capacity of 200 MW and will supply energy to Galp.[31] With financing from KFW and Bankinter, the company secured 110 million euros for the construction.[32]
The Tabernas Plant (Almería), with a capacity of 250 MW and an estimated annual production of 466.6 GWh, will sell its energy to Amazon.[33] It is operating with green financing of 175 million euros. In addition, it has signed an agreement with Ingeteam for the supply of 70 state-of-the-art inverters.[34]
There are another 80 Grenergy photovoltaic plants in Chile.[35]
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